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    Former School Campus For Sale Title is generated by Realmo AI

    2900 NE 132nd Ave, Portland, OR 97230

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    Portland campus with expansion opportunities near I-84.

    Type:Retail
    Added:
    Nov 25, 2025
    Days on Market:
    177
    Last Refresh:
    Apr 5 at 10:11 pm

    Property Features for 2900 NE 132nd Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Joe Kappler
    Joe Kappler

    Listing agent Joe Kappler License #OR #200605069

    Listing office Macadam Forbes

    Listing date Nov 25, 2025

    Source Macadamforbes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Macadam Forbes

    HighLights

    • Rezoning to Campus Institutional 1 allows for increased density with a FAR of 0.5:1 and a maximum building height of 75'.
    • Existing campus infrastructure with 10 buildings totaling 96,418 SF plus a shed.
    • Located just off I‑84.
    • University has performed upgrades to facilities, including a new lecture hall and state‑of‑the‑art anatomy laboratory.
    • Zoning change intended to foster institutional growth and improve community compatibility.
    • Site Coverage of 10.5%.

    Overview

    The property was originally the home to Marycrest School, a Catholic all girls high school. The University of Western States moved to this site in 1973 and has continued to grow and expand at this location. Over the years, the University has performed upgrades to their facilities as well as added a new lecture hall building, and a state-of-the-art anatomy laboratory. There are 10 buildings totaling 96418 square feet, plus a shed. The site coverage is 10.5%. The building occupancy is Business Group B. The property is located just off of I-84. On May 24, 2018 the City of Portland will implement a zoning change for 15 campuses throughout the city. Currently zoned R7, the site will soon be Campus Institutional 1. This change will allow for more density with an increased maximum FAR of 0.5:1, and an increased maximum building height of 75’. The new zoning is intended to foster the growth of institutions while improving neighborhood and community compatibility. This update to the zoning code opens up further expansion opportunities to build upon the existing campus infrastructure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Linfield University Portland ... University Anita F. Roberts, ... Alternative Medicine Practice Daniel L. Delapp, ... Alternative Medicine Practice Frisch Jaysun G ... Alternative Medicine Practice Steven L. Taliaferro, ... Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.526
    Latitude
    45.5437

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    FAQs

    What type of property is this?
    School - Portland campus with expansion opportunities near I-84.
    Where is this school located?
    The property is located at 2900 NE 132nd Ave Portland, OR.
    What are key features of this property?
    This property features: Rezoning to Campus Institutional 1 allows for increased density with a FAR of 0.5:1 and a maximum building height of 75'.; Existing campus infrastructure with 10 buildings totaling 96,418 SF plus a shed.; Located just off I‑84.
    (503) 972-7294
    We can help!
    Listing Contact
    Joe Kappler
    Joe Kappler
    Real Estate License ID: OR #200605069
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2900 NE 132nd Ave , Portland, OR 97230
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